Treasurys pare advance as stocks attempt gains

LauraMandaro

SAN FRANCISCO (MarketWatch) -- Treasurys pared their gains Wednesday after the mid-morning release of factory orders for July, as stocks struggled to post gains. Yields on the 10-year Treasury
TMUBMUSD10Y, +0.67%
which move inversely to prices, were down 1 basis point for the day at 3.356%. Ahead of the 10 a.m. economic data release, they had been down 2 basis points. Yields on the two-year Treasury
TMUBMUSD02Y, +0.91%
were flat at 0.9%. They had been 2 basis points lower ahead of the release. One basis point is 1/100th of a percentage point. The Commerce Department said factory orders increased 1.3% in July, less than the 2.0% rise economists expected. The benchmark stock indexes bounced between gains and losses, with the S&P 500
SPX, -1.54%
lately off 1 point at 996 but the Nasdaq
COMP, -1.94%
higher.

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